The balance of payments moved back into a small surplus in the second three months of the year, according to the latest data from the Central Statistics Office.
Following significant deficits in the three preceding quarters the three months to June showed a small surplus of £136 million (€174 million), down from a surplus of £335 million for the same quarter a year earlier.
Overall in the first six months of 2001 the current account recorded a deficit of £533 million, compared with a surplus of £281 million in the first half of 2000. Merchandise exports provided a large surplus and according to Mr Alan McQuaid of Bloxham Stockbrokers, the merchandise trade balance is expected to remain strong over the rest of the year.
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